Quote:
Originally Posted by aljetmet
9-9-9 is really tough on low to middle class people.
I just read 38% of Americans pay little or no tax with our cuttent tax code.
Now they will have 9% rate plus a 9% national sales tax rate? In addition to state sales tax? OMG.
It's very simple but in reality will bring in less revenue than the current tax structure and I would bet 90% of those reading will be paying a lot more taxes.
You can't make this stuff up!
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The impact on the poorest Americans will have to be evaluated. I heartily disagree about it bringing in less revenue. It will capture the "cash earners", legal and illegal (some of these are the people you're worried about) and draw money from them. The new lower business tax and it's certainty will cause business growth to explode, creating more jobs and more wage earners and more tax contributors.
You will be able to lower your tax bill if you need to by not consuming at that time. It'll be in your hands when you need that to be the case. The money will be in your pocket to control. Just give that some thought.